GST holiday: CFIB asks for small business compensation [Video]

The Canadian Federation of Independent Business is asking the federal government to compensate small businesses for the costs to implement the two-month long GST holiday.

The organization wants the Department of Finance to give affected small firms a credit of at least $1,000 in their GST/HST accounts to cover the costs to reprogram point-of-sale systems to remove and then reinstate the tax.

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CFIB president Dan Kelly says small businesses – particularly those in retail – do not have the time or resources to make the changes to accommodate the temporary change and few believe there will be any net benefit.

Kelly says an online survey conducted by the CFIB found a majority of small firms opposed the planned tax holiday.

He says only four per cent of small business owners said they believe they will …